UAE-based bank, Goldman Lampe Private Bank, announces the additional purchase of Monero in response to increasing demand in crypto trading by customers
The team at Goldman Lampe Private Bank is staying true to their commitment to delivering the best possible banking experience to customers in the private and offshore market as the bank recently increased their Monero portfolio. The move comes after the bank made history in 2021 by becoming the first bank in the world to offer crypto term deposits.
“Goldman Lampe Private Bank has noted huge demand in cryptocurrency trading- XMR and BTC in particular. Therefore, the bank decided to purchase another 100 million Euros worth of Monero. The decision was made mainly because of the significant price drop in recent days and the fact that in a month’s time Monero expects a major update. Our clients have been using our OTC exchange services, which are available through internet banking, more intensively in the past few months, therefore our decision to increase available volume is fully justified.”
The crypto world continues to evolve amidst the increasing popularity and adoption of the technology by individuals and businesses. The financial industry remains one of the major beneficiaries of the advent of digital currencies. However, financial institutions remain skeptical about the practicality of digital currencies especially in the banking world, which is where UAE-based Goldman Lampe Private Bank has been able to change the narrative.
Goldman Lampe Private Bank launched its crypto term deposits, the first of its kind, in 2021, enabling customers to deposit in digital currency and receive good returns upon the expiration of the agreement. While the bank currently offers the service in Monero, there are plans to add more digital currencies to meet the growing and diverse needs of customers. This has also informed the decision to purchase additional 100 Million Euros of Monero, amidst increasing demand from customers. The recent purchase is in addition to the initial 150 million Euros worth of Monero bought to specifically guarantee the protection of clients’ transactions. The private bank has structured its crypto term deposit service into 3 tiers with both 6 months and 12 months plans with a minimum deposit of 50.000 euros.
The private bank currently offers business accounts, personal accounts, and wealth management services, all designed using the latest technologies and a team of highly experienced and well-trained professionals. Goldman Lampe Private Bank has set the standard in the banking world with the recently introduced crypto term deposits that enable a high degree of anonymity as well as other privacy-enhancing features.
For further information about the crypto term deposits and other services from Goldman Lampe Private Bank, visit – www.goldmanlampe.com.